A cryptocurrency smart trader named the upcoming Runes Protocol, built on Bitcoin (BTC), the “next 100x opportunity”. Using the alias Ansem on X, the trader has accumulated remarkable results with trading calls, previously identifying other “100x opportunities.”
On April 16, Ansem posted on the social platform and drew the attention of Lookonchain, reporting smart money activity. The smart trader made his fame by reportedly achieving “170x” on Solana (SOL), “520x” on WIF, and “80x” on BONK.
Interestingly, Ansem believes most cryptocurrency traders currently ignore this opportunity to, in his opinion, achieve nearly 10,000% gains. In his words:
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“Next 100x opp[ortunity] is runes on Bitcoin, 95% of CT [Crypto Twitter] is not paying attention to this at all. Compare volumes with Solana memecoins to current unisat volume and consider the wealth effect if Bitcoiners have their own native altcoins to buy.”
– Ansem
What is the Runes Protocol on Bitcoin?
Casey Rodarmor, the creator of the Ordinals protocol, has developed a new protocol called Runes for Bitcoin.
Essentially, Runes aims to enable the creation and efficient transfer of fungible tokens for a DeFi ecosystem on the Bitcoin blockchain. It addresses the limitations of the, currently most used, BRC-20 standard by allowing multiple token transfers in a single transaction.
Furthermore, Runes promises greater simplicity and security than BRC-20, with no dependencies on Ordinals. The protocol’s launch coincides with Bitcoin’s fourth halving, which could make transaction fees more important for network security.
On that note, a Coindesk report expects Bitcoin average transaction fees to increase if Runes becomes popular. On April 13, Finbold reported these fees again nearing the global average daily income, costing people one full working day to send a single transaction.
Runes builds upon the UTXO concept, allowing users to hold balances in various Runes tokens and freely exchange them.
Ansem’s smart trader history and previous 100x opportunities
Ansem has made remarkable achievements in the volatile world of cryptocurrencies. In January 2021, he opened a position in Solana at $1.5, which skyrocketed to $260 within 11 months, resulting in a staggering 170x gain.
The smart trader’s influence was further demonstrated when he tweeted “bonk great coin” in October 2023, causing the price of BONK to surge by more than 80x in just four months. Finally, his endorsement of WIF in December 2023 led to an astonishing 520x increase, from $0.09 to $4.85.
Specifically, Ansem‘s journey in crypto trading began in 2017 when he shared his learning materials and experiences in a thread. In 2021, he resigned from his job to pursue full-time trading and provided insights on positioning in altcoins and holding Bitcoin.
His trading style involves allocating 70% of his portfolio to long-term holds and 30% to short-term, speculative trades. Ansem attributes his success to accepting mistakes, remaining humble, and controlling emotions during market fluctuations.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
